Azimut expands Drilling Program on the Elmer Gold Discovery Symbol: AZM.TSX Venture
Azimut expands Drilling Program on the Elmer
Gold Discovery
Symbol: AZM.TSX Venture
LONGUEUIL, QC
,
June 29, 2020
/CNW Telbec/ -
Azimut Exploration Inc.
("Azimut" or the
"Company") (
TSXV: AZM
) is pleased to provide an update on the diamond drilling program on its
wholly owned
Elmer Property
in the Eeyou Istchee James Bay region of
Quebec
(
see Figures 1 and 2
). A total of 6,399 metres (32 holes) has been drilled since late
May 2020
.
Based on initial core examination, Azimut's management has decided to expand the ongoing program
to 10,000 metres, from the 6,000 metres initially planned, to further assess the main target (ELM-1)
and other previously identified targets (see press releases of
January 14
and March 18, 2020).
Assay results are pending.
Two rigs have drilled the following thus far:
5,610 metres (26 holes) to test the lateral and depth continuity of the Patwon Gold Discovery
255 metres (2 holes) to test other parts of the ELM-1 target
534 metres (4 holes) to test the ELM-2 and ELM-3 targets.
Drill hole locations are shown on
Figures 3 and 4
, and the coordinates are provided in
Table 1
.
Samples from eleven (11) of the holes have been sent to the ALS Minerals laboratory in
Val-d'Or,
Quebec
.
Visual observations from several holes support the expanded drilling program:
Significant quartz veining and pyrite (finely to coarsely disseminated pyrite, semi-massive to
massive pyrite stringers)
Significant associated alteration (pervasive silica, sericite, chlorite, tourmaline and carbonates)
Presence of native gold grains.
Five main target areas (ELM-1 to ELM-5) are located within a highly prospective corridor 2.5
kilometres long by 1.0 kilometre wide, open at both ends. The target areas are mostly defined by
induced polarization anomalies along several subparallel axes, for a cumulative length of at least
7 kilometres. As a first phase, the current program aims to assess the gold potential from surface to
a vertical depth of 200 metres. To date, drilling has concentrated on ELM-1.
This press release was prepared by Dr.
Jean-Marc Lulin
, P.Geo., acting as Azimut's qualified
person under National Instrument 43-101.
About Azimut Exploration
Azimut is a mineral exploration company whose core business is centred on target generation and
partnership development. The Company uses a pioneering approach to big data analytics (the
proprietary
AZtechMine
TM
expert system) enhanced by extensive exploration know-how. Azimut
maintains rigorous financial discipline and has 65.7 million shares outstanding. Azimut's competitive
edge against exploration risk is founded on systematic regional-scale data analysis and multiple
concurrently active projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SOURCE
Azimut Exploration Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2020/29/c8748.html
%SEDAR: 00003284E
For further information:
Jean-Marc Lulin, President and CEO, Tel.: (450) 646-3015 - Fax: (450)
646-3045, [email protected], www.azimut-exploration.com
CO: Azimut Exploration Inc.
CNW 07:00e 29-JUN-20